The Taiwanese company manufactures Apple iPhone.
Indian company Tata Electronics and Taiwanese Pegatron Corporation (Tamil Nadu) will make mobile handsets as well as their parts in Tamil Nadu. Both companies will invest in the state in a phased manner.
- January 30, 2021, 9:18 PM IST
Global companies want to reduce dependence on China
According to the Tamil Nadu Government, the two companies have different investment plans. In fact, Tata Electronics will invest Rs 5,753 crore in the state to manufacture mobile phone components. At the same time, Pegatron Corporation will invest Rs 1,100 crore for mobile phone manufacturing. Pegatron will invest in a phased manner. The company will invest Rs 1,100 crore in the first phase. Actually, India is becoming a new destination for global companies. This is reducing their dependence on China. At the same time, due to the ongoing business dispute between the US and China, most mobile phone companies are turning away from China.
read this also- Budget 2021: Budget can increase section 80C limit, where to invest in LIC-PPF or NSC will benefitThese companies are also investing heavily in Tamil Nadu
Apart from Pegatron Corporation and Tata Electronics, many companies are going to invest in Tamil Nadu. Of these, Sun Edison will invest Rs 4,629 crore in the state. Please tell that Sun Edison will make solar PV modules in the state. Apart from this, Ola Electric will manufacture electric vehicles and batteries in Tamil Nadu with an investment of Rs 2,354 crore. Explain that in October 2020, the Modi government had approved 16 companies to invest in India under the Production Linked Incentive Program (PLI Program).